Jay Allen Sanford 8 p.m., May 25
Leap Wireless shares zoom on AT&T purchase agreement
AT&T offers $15 a share, stock leaps higher than that
AT&T late today (July 12) agreed to buy Leap Wireless for $1.2 billion, or $15 a share. In after-hours trading, Leap's stock leapt to $16.73, well above that offer, and well over double the $5.82 closing in regular hours trading. The gambling seems to have cooled off a bit, but the stock has still soared on the takeover news. There has been speculation for some time that Leap would be taken over.